Global livestock production outlook for 2024 reveals mixed Bag of trends

WORLD – The Food and Agriculture Organization (FAO) has unveiled its annual report on global food production, painting a nuanced picture for the livestock sector in 2024.

According to the FAO, global animal protein output is set to hit 371 million tons next year.

This overall growth is largely driven by positive trends in most regions, but Asia stands out with an anticipated decline due to reduced pork processing in China.

The poultry sector, particularly chicken meat, is poised for the most significant growth.

The FAO forecasts a 0.8% increase, translating to an additional 1.1 million tons and bringing the total to 146 million tons.

This rise is attributed to robust consumer demand, as chicken remains a cost-effective option despite global inflation.

Nevertheless, the sector faces hurdles, notably outbreaks of Highly Pathogenic Avian Influenza, which pose ongoing risks.

The global stability in chicken meat production masks substantial regional shifts.

While the United States experiences low production, the European Union and the United Kingdom have ramped up their output, compensating for the shortfall.

Meanwhile, Brazil and China, two major poultry producers, have kept their production levels steady, contributing to the overall balance in the global market.

Looking ahead, the FAO and OECD project poultry meat consumption to reach 91 million tons by 2032.

This growth is driven by the perception of poultry as a healthy, affordable protein source compared to other meats, combined with its lower fat content.

Beef production is also on the rise, with a projected 0.7% increase in 2024, adding half a million tons to the global supply.

However, this growth is unlikely to translate into significant economic benefits due to the high prices of beef.

Conversely, the global pork sector faces a downturn, with production expected to drop by 0.9%, or approximately 1.2 million tons, compared to 2023.

This decline is mainly due to China’s measures to manage local oversupply and stabilize domestic prices.

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